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between you and I As simple as pie baby! Thoughts on M1 Finance?

https://www.m1finance.com/

Free. No Fees.

fractional investing allowed. you can spend $1 to buy a fractional share of amazon.

You can set up your own portfolio by percentage. stocks etfs etc. 

you can also automate your investing. like rebalance it if it deviates at a certain percentage. etc.

they have a debit card and checking at 1.5% yield/1% cash back on spending.

I love my cheese. I got to have my cheddar.

It’s between you and me.

Object of a preposition.

Simplify the complicated side; don't complify the simplicated side.

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I love it. Something like this is totally a step in the right direction. I think it would be far easier to excite people about investing if they have the option to buy a tenth a share of amazon. Especially if it’s free.

Now, the only thing left to do is create an API that can ask a client a risk questionnaire and recommend an asset allocation and security mix. Charge 5bps on it and call it a day.

We’d crumble the financial advice industry to it’s friggen knees. 

¯\_(ツ)_/¯ It be like that sometimes.

Is there really a demand for a service that allows you to buy a fraction of a share of amazon? Just looked and it’s like $1,700/share…

We’re gonna win so much, you may even get tired of winning. And you’ll say, 'Please, please. It’s too much winning. We can’t take it anymore. Mr. President, it’s too much.' And I’ll say, 'No, it isn’t!' We have to keep winning!

sharebuilder used to do that with 4 dollar comissions a long time ago. but this is you set a portfolio by percent and they give you that portfolio by fraction. so it likes creating your own etf/fund.

I love my cheese. I got to have my cheddar.

hpracing007 wrote:

Is there really a demand for a service that allows you to buy a fraction of a share of amazon? Just looked and it’s like $1,700/share…

Seems odd to me too.  So your asset allocation in equity will be 1/50th a share of Amazon, 1/30th a share of FB, 30 shares of GE….  That looks like a slow moving disaster becauase people have no idea what risks they own

i mean yea. this allows everyone to properly diversify. now people who are poor, who are most likely dumb, who have very lil net worth, can now properly diversify.

but i also liek the fact that it auto balances for you. it allows you to sell rising positiong and buy losing positions. 

add the fact that it is comission free and i can dig it. 1% cash back on debit purcahses. and 1.5% return on your cash balance.

I love my cheese. I got to have my cheddar.

Malee wrote:

hpracing007 wrote:

Is there really a demand for a service that allows you to buy a fraction of a share of amazon? Just looked and it’s like $1,700/share…

Seems odd to me too.  So your asset allocation in equity will be 1/50th a share of Amazon, 1/30th a share of FB, 30 shares of GE….  That looks like a slow moving disaster becauase people have no idea what risks they own

The company I work for has some of Wall streets brightest minds building models for our clients - or rather we deliver the model to the client I guess. And anytime you have a client who can’t access that same model due to not meeting minimums we always have to use ETFs or mutual funds to fill the gaps.

With something like this, a minimum investment is a thing of the past. We could give a 25 thousand dollar client the EXACT same exposure that a 1.5 mill client can access via a rochdale model (God damn I hate those rochdale a holes too).

seriously dude, something like this is the last “infinity stone” we’re missing from the robo advisors “glove” from absolutely killing the financial advisor.

I love it. It is glorious

¯\_(ツ)_/¯ It be like that sometimes.

It does allow you to fully mimic an index like sp500 and tax loss harvest the index each year. That’s one free lunch in index investing 

Lol it’s so funny how’s there’s a stupid rule to try and stop tax loss harvesting that we all just did a workaround. 

I love my cheese. I got to have my cheddar.